Merz Pharma Group has reported that the subsequent offering period of the tender offer by Merz GmbH & Co and its acquisition subsidiary to purchase all of the outstanding shares of common stock of BioForm Medical at a price of $5.45 per share, net to the seller in cash expired as scheduled on February 18, 2010.
Based on final information from the depositary for the tender offer, 45.4 million shares, representing approximately 95.7% of the outstanding shares of common stock of BioForm Medical, were validly tendered and not withdrawn prior to the expiration of the subsequent offering period. All such shares have been accepted for payment in accordance with the terms of the tender offer, and Merz has or will promptly pay for all such shares.
The acquisition of BioForm Medical will position Merz as a leading player in aesthetic medicine, a fast growing, multi-billion dollar global market. With its increased product offering and expanded reach, particularly in the US, Merz will distinguish itself in the marketplace by its ability to offer dermal fillers based on three distinct technologies: Radiesse dermal filler, Belotero and Novabel.
In addition to its broad dermal filler product offering, Merz will have the ability to offer its customers other innovative aesthetics products that are currently under development. Merz will now be able to offer its customers a wide range of high quality aesthetic treatment options, enabling healthcare professionals to achieve excellent patient results and satisfaction.
Martin Zugel, chairman of the Merz management board, said: “We are excited to begin realizing the benefits of this exciting transaction. With BioForm Medical, we are expanding our product offering with additional innovative, quality aesthetics treatment options and increasing our direct commercial presence in the US and Europe. This transaction will significantly enhance Merz’s existing portfolio and enable us to capitalize on opportunities to effectively launch new products.”
Feb 22, 2010 (from Datamonitor via COMTEX)